The NASDAQ soared above 10,000 for the first time.
And it could hit higher highs thanks in part to Amazon.com (AMZN).
“Amazon’s the best play right here,” says Mark Tepper of Strategic Wealth Partners, as noted by CNBC. “It’s the best diversified post-Covid play. They’re literally in every single business that’s going to thrive on a going-forward basis. You’ve got e-commerce, cloud, digital advertising, personal assistance,” he added.
“Normally, during periods of heavy investment for Amazon like they’re seeing right now, the multiple comes down, but apparently that doesn’t matter anymore when the Fed’s dishing out trillions of dollars like it’s going out of style. So, I think the best pick right here would still be Amazon.”